If these indicators really worked, then many would already be in big profit. Just buy bitcoin, set an indicator showing the new ATH, place an order and wait. Profit.
To be honest i think that not many people are looking at indicators around ATH. They are too focused on finding the best looking yacht that they will buy with their paper gains ...if we will do another X10
![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
In fact, this is not a stable indicator for determining the price of bitcoin, just like the increase in the hash power of the bitcoin network. Let's take data on Google queries for the last 12 months:
[...]
As you can see, when Bitcoin reached the last ATH in November, the number of requests was low. They began to decline after the May events and never rose again. But the market first fell, and then returned back to the values at which it was in April and May, but the requests did not respond to this in any way. So this metric doesn't always work well.
We hit new ATH by few %. We were not hiting new high after high. It was only a bull trap. I'm talking about situation when whole market is on fire. Just like during 2017 bubble or Jan-May 2021. And this indicator was quite good:
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FBaQxO7x.png&t=665&c=z-P4cAWCZsck6A)
Not the perfect indicator, I agree. But it helps to spot when massive wave of retail investors have just found out about bitcoin. Definitely helpful.